Treasury Rate Movements, January 2018

Feb 2, 2018

Short, medium, and long-term rates rose from the previous month. The yield curve widened a bit from the previous month reversing direction as it had narrowed in December. The one-month bill had one session where it held a higher rate than the three-month bill.

Findings

All rates from the one-month to the 30-year rose in January.

The seven-year rate saw the largest absolute growth at 0.33 points.

The three-month rate saw the smallest growth at 0.07 points.

On a relative basis, the three-year rate grew the most with a 15.66 percent rise.

The three-month rate rose the least on relative terms with a 5.04 percent rise.

The one-month bill did not maintain the lowest rate throughout the month.

The yield curve widened 0.06 points.

Caveats

As always, past performance is not indicative of future results.

The rates have been at historic lows for quite some time which has not occurred previously.

Details

The breadth of the yield curve widened over the month from a range of 1.46 to a range of 1.52. The widest range was 1.68 on January 24 and the narrowest 1.49 on January 3.

The thirty-year bond held the highest rate throughout the month, although the rate has been fluctuating throughout the month while trending upwards.

The one-month note held the lowest rate for every session except January 30 when it spiked up to 1.49 only to recede slightly on the last trading day of the month.